- You are a small business owner but, since your business isn't incorporated, TurboTax Self-employed is the best choice for you. If you would like the added option of tax advice and review, consider TurboTax Expert Review for Self-Employed. Here's a link for more info on our products for tax year 2017 - https://turbotax.intuit.ca/personal-tax-software/online-tax-software.jsp
- Your small business activities are included on your personal return. You'll record your total income and any related expenses (cost of the stock, shipping fees, home office if applicable, etc.)
- In cases where the buyer paid for the shipping, you would include the total amount paid to you (including shipping) as income and then include your shipping cost as an expense.
- Expenses lower your taxable income dollar for dollar. Try to be a thorough as possible. Little expenses like stamps or office supplies may seem minor but every little bit helps.
‎October 30, 2019
6:05 AM
